“The bilateral agreement has laid the foundation for expanding bilateral trade in a wide range of fields, including textiles, clothing, automobiles, machinery, agricultural products and seafood,” Ahn said at the forum.
“The two countries will be able to further strengthen their cooperation in the digital economy, clean energy and various other fields to advance Cambodia’s industrial structure and jointly achieve the net-zero goal,” he said. rice field.
Cambodia and South Korea have agreed to strengthen bilateral trade and investment by making full use of a free trade agreement that took effect a month ago, according to South Korea’s Ministry of Industry. The development came at a Business and Investment Forum in Seoul attended by South Korea’s Trade Minister Ahn Deok-geun and Cambodia’s Commerce Minister Bang Sora-sak.
South Korea will support Cambodia’s technological development through its official development assistance program, Ahnwas told the press.
The FTA, which took effect on December 1 last year, calls for a higher level of market opening than the existing Korea-ASEAN FTA and the Regional Comprehensive Economic Partnership (RCEP) multilateral trade agreement, the ministry said.
Last year’s bilateral trade was $1.05 billion.
Fiber2Fashion News Desk (DS)